Drug Screening Market Set for Impressive Growth, Reaching $15.04 Billion by 2028, Driven by Rising Substance Abuse and Demand for Treatment Solutions

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033.

The drug screening market has witnessed substantial growth, escalating from $7.65 billion in 2023 to an estimated $8.79 billion in 2024, demonstrating an impressive Compound Annual Growth Rate (CAGR) of 14.9%. The market is poised for continued expansion, with projections indicating a surge to $15.04 billion by 2028, sustaining a CAGR of 14.4%.

Driving Forces:

1. Escalating Drug and Alcohol Usage:
The escalating prevalence of drug and alcohol consumption acts as a primary driver for the burgeoning drug screening market. The surge in addiction cases, including substances like alcohol, marijuana, and nicotine, intensifies the necessity for drug screening. A global concern, reflected in the National Survey on Drug Use and Health (NSDUH), reports a 3.8% YoY increase in drug usage, emphasizing the critical role of drug screening in combating this growing issue.

2. Increasing Need for Substance Abuse Treatment:
The rising demand for substance abuse treatment is a significant catalyst propelling the drug screening market. The identification of compounds not typically found in the body, facilitated by drug screening, aids in the diagnosis and treatment of drug abuse or substance abuse disorders. The United Nations Office on Drugs and Crime (UNODC) underscores the global impact, with over 275 million people using drugs worldwide and 36 million suffering from drug use disorders.

Explore the Global Drug Screening Market with a Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6369&type=smp

Leading Market Players:
Major companies driving the drug screening market include Laboratory Corporation, Quest Diagnostics Incorporated, Alere Inc., OraSure Technologies Inc., and Abbott Laboratories. These key players play a crucial role in meeting the escalating demand for drug screening solutions.

Market Trends:

1. Introduction of Innovative Products:
The launch of innovative products emerges as a key trend in the drug screening market. Companies prioritize the development and introduction of new, effective drug tests, adapting to evolving screening methodologies. For instance, Sysmex Corporation's UF-1500 Fully Automated Urine Particle Testing Analyzer exemplifies this trend, offering advancements in urine sediment testing and screening.

2. Strategic Partnerships and Collaborations:
Strategic partnerships and collaborations are becoming increasingly prevalent among market players. These collaborations aim to enhance financial strength, product portfolios, and geographical reach. An exemplar is the strategic research partnership between PhoreMost Ltd. and ThinkCyte K.K., leveraging artificial intelligence (AI) for modern phenotypic drug screening. The synergy of SITESEEKER and Ghost Cytometry technologies promises to revolutionize drug discovery through efficient target identification.

Regional Dynamics and Market Segmentation:
North America dominates the drug screening market in 2023, with Asia-Pacific anticipated as the fastest-growing region.

The drug screening market covered in this report is segmented -
1) By Products: Rapid Testing Devices, Consumables, Other Products
2) By Sample Type: Oral Fluid Sample, Hair Sample, Urine Sample, Breath Sample, Other Sample Types
3) By End User: Drug Testing Laboratories, Workplaces, Criminal Justice and Law Enforcement Agencies, Hospitals, Drug Treatment Centers, Individual Users, Pain Management Centers, Schools and Colleges

Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/drug-screening-global-market-report

Drug Screening Global Market Report 2024from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
TheDrug Screening Global Market Report 2024byThe Business Research Company is the most comprehensive report that provides insights on drug screening market size, drug screening market drivers and trends, drug screening market major players, competitors' revenues, drug screening market positioning, and drug screening market growth across geographies.The drug screening market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:

Drug Discovery Technologies Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/drug-discovery-technologies-global-market-report

Artificial Intelligence (AI) In Drug Discovery Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/artificial-intelligence-in-drug-discovery-global-market-report

Drug Discovery Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/drug-discovery-services-global-market-report

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

Check out our:
LinkedIn:https://in.linkedin.com/company/the-business-research-company
Twitter:https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog:https://blog.tbrc.info/
Healthcare Blog:https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

About The Business Research Company
The Business Research Company has published over 3000+detailed industry reports, spanning over 6500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Global Market Model - Market Intelligence Database
The Global Market Model, The Business Research Company's flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

This release was published on openPR.